Residents of landslide-stricken city in California offered $42M in buyout program

Homeowners on a Southern California peninsula where worsening landslides have damaged homes and led to utility shutoffs are eligible for a $42 million voluntary buyout program offered by state and federal officials. The program was announced Monday night during a special town hall meeting for Rancho Palos Verdes residents plagued by shifting land on their properties. The money will come from the Federal Emergency Management Agency, or FEMA, and the California Governor’s Office of Emergency Services.